The crucial tenth round of meeting with 41 farm unions is scheduled for Tuesday. The talks have failed to yield any concrete results as the agitating unions have stuck to their main demand for repealing the agri laws and the government has ruled out any such step.
'Before you work on your business plan, before you build your team, you should have a clear idea about what your product is, who your customer is, how valuable the product is, and whether the market is deep and wide.'
India is one of biggest producers and exporters of agri commodities.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
Trading in agri commodities on Saturdays to be reviewed later; more changes likely in the coming months to align with global pattern.
'The way the bank is doing in the past 4-5 quarters, no reason to see why we will not be able to achieve that.'
'The US has agreed to negotiate with us a mutually beneficial bilateral trade agreement, which will go for reduction of tariffs on both sides so that our trade can grow.'
The ED has attached properties worth Rs 4,109 crore spread across various states in a money-laundering case linked to an alleged ponzi scheme, the agency said on Thursday. The case pertains to the Agri Gold Group of Companies. Three promoters of the group were arrested by the central agency on Tuesday.
Sitharaman also announced Rs 10,000 crore fund to support 2 lakh micro food enterprises for promoting health and wellness, herbal, organic and nutritional products.
He said that as compared to global models costing 2.5 to 3 US dollars per hour usage, India's AI model will cost less than less than Rs 100 per hour (1.16 US dollars per hour) after 40 percent government subsidy.
Drone maker Garuda Aerospace have renewed their brand ambassador contract with M S Dhoni after he tops up investment in the company.
The Centre on Monday announced seven big programmes for the holistic growth of agriculture and allied sectors with a total outlay of nearly Rs 14,000 crore, as it aims to improve farmers' income. The Union Cabinet approved seven big-ticket programmes related to the farm sector, including a Rs 2,817-crore digital agriculture mission and a Rs 3,979-crore scheme for crop science. "The Union Cabinet, chaired by Prime Minister Narendra Modi, approved seven schemes to improve farmers' lives and increase their incomes at a total outlay of Rs 13,966 crore," an official statement said.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
They said that they will completely block the Chilla Border between Delhi and Noida on Wednesday to press for their demands, adding that farmer unions are not running away from negotiation, but the government has to pay heed to their demands and come forward with concrete proposals.
https://www.rediff.com/business/report/quality-control-orders-what-does-this-mean-for-domestic-industry/20240425.htm
The bank is using readily available satellite images from ISRO and NASA for the purpose, and plans to scale up to 63,000 villages in the next three months.
Celebrating Kisan Diwas, e-retailing firm Snapdeal on Tuesday announced the launch of "The Agri store", offering products like seeds, fertiliser and irrigation tools.
Reserve Bank Governor Shaktikanta Das on Thursday said the fundamental drivers of the Indian economy are gaining momentum and the country is moving on a sustainable growth path. In the inaugural address at FIBAC 2024, the governor said that massive changes are taking shape in various economic sectors and markets, and the country is geared for orbital shifts.
Fast-moving consumer goods (FMCG) companies are expected to witness pressure on volumes in the October-December quarter. However, price hikes will help push up revenues, said brokerages.For India's largest engineering firm, Larsen and Toubro (L&T), the analysts expect a 20 per cent growth in consolidated revenue, and an 8.1 per cent core business Ebitda margin, up 40 bps from a year ago.
The Indian Institute of Plantation Management, Bangalore, invites applications for its Post Graduate Diploma in Agri-Business & Plantation Management.
Singh wrote in the suicide note that the government must repeal these farm laws as these are against the interests of farmers, according to a leader of the Bharatiya Kisan Union.
India's recently-enacted agri laws have the potential to increase farmers' income, but there is a need to provide a social safety net to the vulnerable cultivators, IMF's Chief Economist Gita Gopinath has said. Indian agriculture is in need of reforms, she said. There are multiple areas where the reforms are needed, including infrastructure, the chief economist of the Washington-based global financial institution said on Tuesday. The three agri laws, enacted in September last year, have been projected by the Indian government as major reforms in the agriculture sector that will remove middlemen and allow farmers to sell their produce anywhere in the country.
A group of 200 farmers reached Jantar Mantar in central Delhi on Thursday to protest against the Centre's three contentious farm laws as the Monsoon session of Parliament was underway.
After China removed India from the list of its oilmeal importing countries from January 1, Vietnam has laid down impossible phytosanitary regulations for Indian exporters, thereby threatening one of the largest agri-commodities export markets in India. Vietnam may suspend the import of agri-commodities from India.
The Supreme Court-appointed committee on the new farm laws on Monday said it held consultations with eminent academicians and agri-professionals on the legislations against which farmers have been protesting at Delhi's borders for over two months now.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
Stoutly defending the agri laws, Modi said it is one thing if a political party makes a promise and is unable to deliver on it but what is a "particularly undesirable" and "detestable" trait is some of these parties made promises on the lines of the reforms enacted by his government and have now done a U-turn and spread "the most malicious kind of misinformation on the promises they themselves had made".
Services and manufacturing conglomerate Bharti Enterprises on Thursday announced its foray into agri-business in partnership with Rothschilds with an initial investment of Rs 250 crore (Rs 2.5 billion).
Soon, traders in India could play in the global agri futures market. India's commodity exchanges have asked the market regulator, Forward Market Commission, to permit evening trading in internationally linked agri commodities.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Withdrawing a blanket ban on overseas shipments of non-basmati white rice, the government on Saturday imposed a floor price of $490 per tonne and exempted the commodity from export duty. Exports of non-basmati white rice have been banned since July 20, 2023 to boost domestic supply. "The export policy for non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or gazed) ...is amended from prohibited to free, subject to MEP (minimum export price) of $490 per tonne with immediate effect and until further orders," the directorate general of foreign trade (DGFT) said in a notification.
The Madhya Pradesh government had signed as many as 20 Memorandums of Understanding worth billions of rupees in the just concluded agri-business meet.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
"While there is a protest against reforms, lakhs of farmers are also gathering to express support for bills. Today, thousands of farmers gathered in Gwalior for it," said Tomar while addressing an ASSOCHAM session via video conferencing on Wednesday.
Despite volume growth in the export segment and strong demand in the domestic market, pricing uptick is eluding Indian agrochemical companies.
With monsoon rainfall 16% below the long-period average, total sowing area is down by 7% at 56.7 million hectares so far this season.
The six AEZs in West Bengal are for pineapple, lychee, potato, mango, vegetables and Darjeeling tea.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
Excel Industries Ltd will demerge and transfer the companys agri business to Excel Corp Care Ltd.
